Austrian Economic Policy News and Analysis
Read the latest headlines about policies and laws influencing the business and investment environment of Vienna and Austria
Survey: CEOs in Romania Most Optimistic
A great majority of CEOs at Romanian enterprises are confident in regard to the economic outlook and growth in 2014.
January 24, 2014
CEE: Economic Sentiment at Lowest Level
ZEW-Erste Group Bank Economic Sentiment Indicator for the CEE at lowest level.
January 24, 2014
Czech Republic: New Government Appointed in Late January
Zeman expected to appoint even “problematic” candidates.
January 24, 2014
Slovenia: NLB Facing Downsizing Measures
Slovenian NLB is facing severe downsizing measures. As part of the restructuring process, the country’s biggest bank has to lay off personnel.
January 24, 2014
Serbia: World Bank Delays Loan
The World Bank has delayed a loan in the amount of US-$ 250m for Serbia.
January 24, 2014
RBI Not to Be Sold to Hungarian State
Hungarian Minister Varga announced that the Hungarian state had no interest in taking over RBI’s local affiliate. Instead, RBI announced that staying in Hungary was “the right decision”.
January 23, 2014
Eurozone: Highest Economic Growth in Two Years
The purchase manager index for the private economy increased to 53.2 points up by 1.1 points, as published by Markit research institute on Thursday.
January 23, 2014
CEE: Insolvencies Declining But Larger Effect
The number of insolvencies in Central and Eastern Europe (CEE) is declining. However, the individual insolvencies are becoming larger, as reported by French credit insurer Coface.
January 23, 2014
Poland: Banking Sentiment Rises
The Polish banking sentiment indicator Pengab increased by 1.2 points in January on a month-on-month comparison basis to a total of 27.5 points.
January 23, 2014
Bulgaria Imposes Interest Ceiling on Quick Loans
The Bulgarian parliament plans on putting a lid on the interst rates of quick loans.
January 23, 2014
Slovenia: Bank Losses Tripled in 2013
Over the last year losses in the banking sector tripled to almost € 1.1bn.
January 23, 2014
Hypo Group: Decision Within First Quarter of 2014
The long-awaited meeting between the government and Hypo Group’s taskforce has been fixed to find a solution of the Austrian problem bank. The option of a bank participation is still on top of the list.
January 23, 2014
Uniqa Growing Faster Than Czech Insurance Market
Insurance group Uniqa reveals a significant increase in premiums in the first three quarter in 2013. Moreover, Uniqa showed an increase of CZK 3.3bn in the sector non-life insurance and CZK 877m in life insurances.
January 22, 2014
Bank Dispute between Croatia and Slovenia Reappears
Last year Slovenia was ordered in the first instance to pay back the foreign currency deposits of LB’s former affiliate in Sarajevo.
January 22, 2014
Eurozone: Number of Banks Declining Fastly
The decline in the number of euro area monetary financial institutions (MFI) continued in 2013, according to ECB’s (European Central Bank) reports.
January 22, 2014
Austria: Debt Rate Rises Unstoppably
In the third quarter last year the Austrian public debt rate increased significantly compared to the previous quarter.
January 22, 2014
CA Immo to Repurchase Liabilities
Listed real estate company CA Immobilien Anlagen AG announced to repurchase its own liabilities of around € 428m in nominal terms.
January 22, 2014
Croatia Supports Albania in EU Accession Course
Albania hopes that EU Accession Negotiations will take place in June 2014.
January 22, 2014
Austrian Bank Levy: “Penalty Gone Wild”
On the basis of a new method of calculation around € 90m more in bank levy should be generated compared to the previous year.
January 22, 2014
Slovenian Economy to Shrink “Only” 2 Percent
According to the ERBD’s (European Bank for Reconstruction and Development) revision, Slovenia’s economy will shrink “only” 2 percent up from a 2.5 contraction of GDP which was forecast in November.
January 22, 2014
“No Real Wage Loss This Year“
In terms of real wages, Austria may face a trend reversal this year. In Southeastern Europe, by contrast, poverty is growing considerably.
January 21, 2014
„Only A Catastrophy Will Bring a Change“
Bestselling author Marc Friedrich criticizes the IMF sharply and thinks that the Basel III framework is “ridiculous”. The U.S. monetary policy is “doomed to failure”.
January 21, 2014
Vienna Congress comsult 2014: "Europe - Setting Directions"
Distinguished participants from industry, politics and the business community such as the former German Minister of Finance and Member of the German Bundestag Peer Steinbrück, the former President of the Czech Republic Václav Klaus, Deputy Prime Minister of Liechtenstein Thomas Zwiefelhofer, Mastermind of David Cameron, Phillip Blond, Member of the European Parliament Paul Rübig, economist and co-founder of AfD Bernd Lucke and Iain Begg, professorial research fellow at the London School of Economics and Political Science are currently dicussing this issue in Vienna.
January 21, 2014
Czech Economy to Grow Not Sooner than 2016
The Czech economy will struggle to show economic growth both this and next year, according to the Czech Federation of Trade Unions CMKOS.
January 21, 2014
Austria: Nowotny Calls for Fast Decision on Hypo Group
The Governor of the Austrian National Bank (OeNB) presses the government to act quickly and avoid further straining the budget and burdening the taxpayers.
January 21, 2014
Erste to Maintain Business in Hungary
According to CEO of Erste Group’s Hungarian affiliate, the bank will remain in the country to expand business activity.
January 21, 2014
Serbia: "Kosovo Part of Whole Package"
Serbia hopes to join the union until the year 2020. The solving of the issue with Kosovo remains a key condition. Austrian Foreign Minister Kurz stresses the importance of the region becoming a part of the European Union.
January 21, 2014
Czech Republic: New Government Facing Bumpy Road
The first obstacles for forming a new government seem to have been surmounted – for the time being.
January 21, 2014
Spindelegger Met Almunia: „Bank Aids Were No Issue“
Today, Austrian Minister of Finance Michael Spindelegger has met Commissioner for competition Joaquin Almunia.
January 20, 2014
Austria: Fischer Calls Upon Respect of Human Rights
At the New Year Reception for the diplomatic corps in Austria, President Heinz Fischer called upon the strict compliance to human rights.
January 20, 2014
Austria: Real Estate Prices Surging since Financial Crisis
Prices in the Austrian real estate market have been rising dramatically since the financial crisis broke out.
January 20, 2014
Erste Group: Moderate Economic Recovery in Eurozone
Euro area sentiment indicators point to a continuation of the moderate recovery, according to Erste Bank.
January 20, 2014
Poland to Do without Further Bond Issues
Poland will abstain from issuing new US-Dollar or Eurobonds.
January 20, 2014
Kotian: “Growth in CEE is Accelerating“
In an interview with Austrian daily “Wirtschafts-Blatt”, CEE expert at Erste Group, Juraj Kotian, points out that the bond market is expected to see growth supported by the successful reduction of debts and high economic growth.
January 20, 2014
Uniqa Serbia Continues to Grow
Market share increases to 7.3 per cent in third quarter of 2013. Premium volume for life insurance up 18.5 per cent.
January 20, 2014
Austrian Banks to Resist Further Burdens?
Podium discussion at Viennese law firm Binder Grösswang.
January 20, 2014
Austrian Office Market: Boom is Over
The increase in new construction has reached a new low. According to Bernhard Reikersdorfer (CEO of Remax Austria), the price situation will remain stable.
January 20, 2014
Mitterlehner: „Hypo Group Must Not Burden State Budget“
Austria´s Minister of Economics underlined that the Austrian government is looking for an effective and cost-saving solution for the nationalized Lender Hypo Group Alpe Adria.
January 20, 2014
Austria Far from Reaching Fiscal Targets
Josef Moser, President of the Austrian Audit Court fears that the zero deficit cannot be achieved until 2016.
January 18, 2014
„Hungarian Economy Must be Rearranged“
István Töröcskei thinks that the Hungarian banking sector is highly interesting. In general, the financial sector must help to develop the Hungarian economy, Töröcskei argues.
January 18, 2014
Hypo Group Alpe Adria: Austrian Government Becomes Nervous
Although the participation of the private banking sector is unrealistic, the Austrian government does not give up. However, the time pressure grows week by week.
January 18, 2014
Czech Republic: Euro Introduction Has no Priority
In an interview with Bloomberg, designated prime minister Bohuslav Sobotka said that there will be no date for entering the Eurozone in the current term.
January 17, 2014
Croatia: “Loose Monetary Policy Shows First Signs of Success”
Boris Vujcic, governor of HNB (Croatian National Bank) thinks that the quantitative easing policy works.
January 17, 2014
S&P Optimistic About Slovenia
The U.S. rating agency reiterated the Slovenian sovereign debt rating at A-. The outlook remains “stable”. S&P´s analysts consider Slovenia´s crisis management as adequate.
January 17, 2014
Czech Republic: Sobotka Sworn in as PM
Head of the Czech Social Democrats (CSSD), Bohuslav Sobotka, was sworn in as new Prime Minister by President Milos Zeman on Friday afternoon.
January 17, 2014
Slovenia: Controversies over Ambassador’s Statements
Joseph Mussomeli, US ambassador to Slovenia, needs to justify himself to the Slovenian Foreign Ministry over his statements about the country’s independence.
January 17, 2014
Hungary: Forex Loan Problem to be Solved
According to the Hungarian National Bank (MNB), the problem of the foreign-exchange loans could be solved in the next half year.
January 17, 2014
Audit Court Criticizes Austrian Government Sharply
Josef Moser, president of the Austrian Audit Court, has sharply criticized the government’s resolution.
January 17, 2014
Austrian State Sues Six Banks
The Republic of Austria filed lawsuits against six lending banks of bankrupt construction enterprise Alpine.
January 17, 2014
WSE to Become Regional Leader?
The Warsaw Stock Exchange (WSE) hopes to take over a “dominant” role in trading in Central Europe, as announced by GPW, the bourse’s operator, on Thursday.
January 17, 2014
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